Despite the $2.1B bond that must be repaid in Sept 2013, Sharp is still innovating with new copier product and signing up new dealers. It cannot be all doom and gloom in their copier business.
Although I have tried to pitch the Corporate "doom and gloom" story to accounts where Sharp is involved, it does not seem to get much traction with buyers.
quote:Originally posted by SalesServiceGuy:
Despite the $2.1B bond that must be repaid in Sept 2013, Sharp is still innovating with new copier product and signing up new dealers. It cannot be all doom and gloom in their copier business.
Although I have tried to pitch the Corporate "doom and gloom" story to accounts where Sharp is involved, it does not seem to get much traction with buyers.
I don't think it is doom and gloom for the copier business either, however I do make mention with every account that is considering Sharp that they now about the financial condition of the company. Just because things are fine now with the copier division does not mean they may be fine in a year or more from now.
I'm curious to see how all of this pans out.
Can you say, Sharpsung!
- Japan's Sharp Corp is aiming to raise 100 billion yen ($1 billion) from share sales by the end of September as the struggling display maker looks to partnerships and a public offering to bolster its finances, media reports and sources familiar with the situation said on Friday.
The company plans a public offering of 90 billion yen by end-September, Kyodo news agency reported, while two sources familiar with the matter said it plans to raise 10 billion yen through a share sale to housing appliance maker Lixil Group Corp.
Sharp is also sounding out other companies including power tools maker Makita Corp to buy shares, the sources told Reuters.
The Osaka-based company, which supplies display panels for Apple Inc's smartphones, received a $4.6 billion rescue from banks last year and has since received investments from Samsung Electronics Co Ltd and Qualcomm Inc.
Japanese media have flagged the possibility of a public offering this year although the specific timing had remained unclear before Friday's mention of an end-Friday target.
Shares in Sharp rose more than 5 percent in morning trade on Friday to 490, their highest in seven weeks. They have gained nearly 15 percent over three days.
The company said in a statement nothing had been decided regarding a public share offer or a share sale to companies.
Sharp has forecast an 80 billion yen operating profit for the year to next March 31, after logging a 146.27 billion yen operating loss last year.
($1 = 100.62 Japanese yen)
(Reuters) - Shares in Sharp Corp climbed 3.7 percent to 480 yen, hitting a seven-week high on Friday after Kyodo news agency said the display maker plans to raise about 100 billion yen ($1 billion) through share sales.
Kyodo cited sources familiar with the matter as saying that Sharp plans to raise around 90 billion yen through a public stock offering by the end of September and up to 10 billion yen selling shares to housing equipment maker Lixil Group.
Separately, the Nikkei business daily said Sharp was also planning to raise 10 billion yen from power tool maker Makita Corp.
"The fact that they are going to get funds from direct investment from other companies that seems a very positive thing. It's non-dilutive to a degree," a Tokyo-based trader said. "It's dilutive on an EPS basis and dividend. But they don't pay a dividend, so nobody cares."
Sharp's shares have risen more than 12 percent over the past three sessions. ($1 = 100.6250 Japanese yen) (Reporting by Dominic Lau; Editing by Edmund Klamann)
The following appears on engadget.com
Despite posting a small 15.36 million yen ($182 million) loss, it would be hard to call Sharp’s latest Q1 2013 financial quarter anything but a success after last year’s$1.2 billion debacle. After gaining investment from companies like Samsung and, more recently, Qualcomm, Sharp saw revenue up 32.6 percent to 607 billion yen ($6.2 billion) on strong LCD demand. In fact, sales of small- and medium-sized panels for smartphones and tablets were up a hefty 54.8 percent over Q1 2012, with its electronics division up 46.6 percent overall. The company thinks it’ll hit a net profit for the fiscal year thanks to “high-value” 4K LCD TVs, Aquos phones in Japan and more IGZO displays for upcoming handhelds.